Friday, December 21, 2012

Chinese entrepreneurs seek investment proposals

Visiting Chinese
entrepreneurs asked Nepali counterparts to bring investment proposals that will
benefit both countries. Chinese entrepreneurs want to invest in sectors that
have competitive advantage, said vice secretary of Guangdong Provincial Council
Yao Hengyin in a meeting with senior vice president of Federation of Nepalese
Chambers of Commerce and Industry (FNCCI) Bhaskar Raj Rajkarnikar.

"We want security
of our investment. Nepal must assure us on it," said Hengyin. Similarly,
vice president of China Council for Promotion of International Trade Luo
Bingzhi said that Chinese investment in Nepal could reduce the trade deficit
between the two countries. Nepal must introduce programmes to reduce the trade
deficit. The Chinese private sector is ready to join hands, he added.

Trade deficit between
Nepal and China was at around $621 million in 2011. The Chinese team also urged
Nepali entrepreneurs to take benefit from duty exemption in exporting Nepali
goods to China. The northern neighbour has granted custom duty exemption in
over 4,721 goods.

In the meeting, FNCCI
handed over an invitation to Chinese entrepreneurs to participate in the second
International Trade Fair to be held in Kathmandu, in March next year.